§ 54-109.76. Liability insurance for officers. - North Carolina Statutes

§54‑109.76.  Liability insurance for officers.

A credit union may purchaseand maintain liability insurance on behalf of any person who is or was adirector, officer, employee, or agent of the credit union, or who is or wasserving at the request of the credit union as a director, officer, employee, oragent of another corporation, partnership, joint venture, trust or otherenterprise against any liability asserted against such person and incurred bysuch person in any such capacity or arising out of such person's status assuch, whether or not the credit union would have the power to indemnify suchperson against such liability. (1975, c. 538, s. 1.)